I don't know what will happen BUT I can determine the reward / risk. And just because there is upcoming news doesn't change that. In a nutshell, we went into the FOMC with weak momentum and ST overbought. I don't know the news but if it is fathomable, I can deal with that. The things I don't know are natural disasters, assassinations, etc. So I am quantifying risk going into the FOMC and using the news as an opportunity, not something to avoid. Note to @Laissez Faire. And I admitted screwed that up back in September. Not saying this is easy, just saying it's possible. The problem is that as traders we only look at the market through our own lens and our own style. I don't care how you make a buck. Schizo is pivoting from short to long all the time -- that's great! It's amazing actually. And I appreciate that. At the same time, I don't criticize him for doing that if it works for him.
No you cannot. If you put a stop, let's say at 10 points, and the news makes the market move in one time 20 points, your stop will not be executed at 10 points. So you cannot determine the reward / risk.
No point in discussing this one - but if you re-read what you typed you'll find it doesn't make sense.